Elonn needed improved performance

Concerns and goals of the property owners

Elonn hired a large management agency specializing in short term property management with a presence in numerous cities across the country to manage his property. His hope was to have a successful short term rental operation that would out perform a traditional long-term rental arrangement and associated typical rates of return. After 18 months of operating at an average occupancy rate of return of 20%, Elonn decided it was time to explore other options with a better understanding of local market demand, seasons, marketing strategy and pricing.

The lay of the land

Elonn’s property was located on the northernmost edge of the up and coming city of Rio Rancho.   It included a 3 bedroom, 2 bath, 1700 sq ft property with beautiful mountain views.  The property features great access to several popular entertainment venues and is ideally located near many trails.  It is particularly suited for families or small groups interested in good proximity to activities and enough space to relax after an active day.

What did VMG need to overcome in order to make the property a successful vacation short term rental?

Though the property had great character and appeal potential, the marketing strategy by the big agency failed to advise Elonn on the best approach to package and sell it.  And while perhaps it had some challenges in terms of distance to some venues in the Albuquerque area, it had advantages if the marketing strategy focused on the right demographic.  The challenges weren’t the property, the challenges were the marketing approach and targeted customer.

The how’s make all the difference

The VMG recommended solutions were simple – target families by setting up as a family friendly home.  Immediate changes were recommended and future suggestions were placed on a list for future improvements.  Changes were made, the new vision captured with the aid of a professional photographer and a plan was developed to leverage the keen assistance of an online marketing expert to hone in search engine optimization for more property viewings.

The goals reached and problems overcome

Within the first six months of partnering with VMG Rentals, Elonn average occupancy rates soared to 74.5%.